Loading...
Loading...
In a report published Thursday, Morgan Stanley analyst Dara Mohsenian reiterated an Equal-Weight rating on
The Coca-Cola CompanyKO.
In the report, Morgan Stanley noted, “Coke signed a 10-year agreement with GMCR to collaborate on the development and introduction of Coca-Cola products for use in GMCR's Keurig Cold at-home beverage system globally. With the agreement, KO purchased ~$16.7M newly issued GMCR shares for ~$1.25B ($74.98/share), representing a 10% stake in the company. The deal is expected to close in March of 2014. GMCR will be KO's exclusive partner for the production of Coca-Cola branded single-serve, pod-based cold beverages, and the companies stated they will explore future collaboration opportunities in the Keurig system. The agreement does not preclude GMCR from having other beverages on its platform.”
The Coca-Cola Company closed on Wednesday at $37.61.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in